The Morgan Hill Know-how and Industrial Park is purchased by an actual property investor

The Morgan Hill Know-how and Industrial Park is purchased by an actual property investor

MORGAN HILL – A big new – and empty – expertise and industrial park in Morgan Hill has been bought by a seasoned actual property funding agency in a deal valued at over $100 million.

Butterfield 5 Tech Park was bought by a subsidiary of Invesco Actual Property for $119.3 million, in response to paperwork filed June 17 with the Santa Clara County Recorder’s Workplace.

The advanced has a complete space of ​​410,100 sq. toes and consists of 5 main expertise and industrial buildings, in response to paperwork held by Morgan Hill’s planning division.

CBRE, a business actual property firm, organized the acquisition of Butterfield 5 Tech Park.

Buildings at Butterfield 5 Know-how and Industrial Park on Butterfield Boulevard between Sutter Boulevard and Digital Drive in Morgan Hill, Idea.

Trammell Crow, a big business actual property firm that offered the buildings to Invesco, was represented on the transaction by Rebecca Perlmutter, an government at CBRE Nationwide Companions.

“Demand for industrial, manufacturing and life sciences area continues to develop in Northern California,” mentioned Rob Shannon, government vp of CBRE.

The mission simply bought, with building not too long ago accomplished, could possibly be poised to supply the type of area firms are in search of.

“Butterfield 5 has the flexibleness to adapt its area to the altering wants of tenants,” mentioned Shannon.

CBRE brokers Shannon, Chip Sutherland and Brian Matteoni will deal with ongoing leasing to attempt to appeal to tenants to the expertise park.

Leave a Reply

Your email address will not be published.

A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.